Dividend policy is the cores of the company financial problems, and it has been paid close attentions by all interest parties. This paper has chosen the Shanghai stock market 416 A-share listed companies. Earning continuity is as acting variables, using logistic regression methods, empirical analyzing if the stock market has the correct type of pricing to the listed companies distributing different types of dividends by statistical analysis. From the conclusions in this paper, there is a positive correlation between China's listed companies for cash dividend and earnings continuity. But the market effect by different kinds of dividend does not get fully reaction. This shows that the stock market is weak-effective in our existing system. According to the results of empirical studies, the combining the Chinese market environment laws and regulations, this paper gives some referents about information contained in company dividend policy for investor and how to evaluate all the information . |